Mario Gabelli (Trades, Portfolio) is the founder, chairman, and CEO of GAMCO Investors, a $30 billion dollar global investment firm headquartered in Rye, New York. The investor reported reducing his stake in Superior Industries International (NYSE:SUP) by 1.2%, according to 1,884,951 shares. However, the guru is the major shareholder as of the end of the fourth quarter.
The fund initiated a position more than five years ago, and since then Gabelli added and reduced the stake, but in 2015, he reduced the stake each quarter 1.88 million. The stock price dropped by 8% in that time frame, so he had probably taken advantage of that depreciation to take the gains. However, Superior Industries International’s shares gained almost 20% year to date. Continue Reading »